A.  Any claim for payment for covered prescription drugs, other products and supplies, and pharmacist services submitted by a pharmacist or pharmacy to a health insurance issuer as an electronic claim that is  electronically adjudicated shall be paid not later than the fifteenth day after the date on which the claim was electronically adjudicated.  If the governor declares a state of emergency pursuant to La. Rev. Stat. 29:724, the time period prescribed in this Subsection shall be interrupted during the continuance of the state of emergency for any claims office which is located in the territorial limits of the declared state of emergency.

B.  Health insurance issuers shall have appropriate handling procedures approved by the department for the acceptance of electronic claim submissions.  Such procedures shall include:

(1)  A process for electronically dating the time and date of actual receipt of electronic claims.

(2)  A process for reviewing electronic review of transmitted claims for accuracy and acceptability.

(3)  A process for reporting all claims rejected during electronic transmission and the reason for the rejection.

C.  Health insurance issuers shall establish appropriate procedures approved by the department to assure that any claimant who is not paid within the time frame specified in this Section receives a late payment adjustment equal to one percent of the amount due.  For any period greater than twenty-five days following the time frames specified in this Section, the health insurance issuer shall pay an additional late payment adjustment equal to one percent of the unpaid balance due for each month or partial month that such claim remains unpaid.

Acts 2004, No. 876, §1, eff. Jan. 1, 2005; Acts 2005, No. 209, §1, eff. July 1, 2005; Redesignated from La. Rev. Stat. 22:250.54 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.